Yes, get rid of it and at least publish who caused the Lehman failure.

I understand very little about the market except that my 401K is missing. Let me see if I got this straight.
I borrow something from somebody, try to sell it and hope that I can buy it back at a lower price than I sold it. This is a legal "short sale". Now, as I see it, a "naked short sale" means that I don't even need to borrow the something to sell it and buy it back.
Any chance I can borrow your house and sell it? I promise I'll return it. Oh, never mind, I'll just sell your house without even involving you.
Anywhere but Wall Street, I'd be spending time in a cell with a big guy named Bubba for trying something like this.

How about banning short selling altogether!!!!!!!!!!!!!!!!! Whatever happened to buying a stock when you liked it and selling it when you didn't. Short selling is a BIG gimmick to make day traders and hedge funds rich by passing around negative rumors about a company. They could care less if the whole economy tanked as long as they made money.
Unless you ban it altogether, it'll only be window dressing and the collusion will continue to drive down financial institutions' stocks.............
If you agree.........email the SEC and let them know to ban short selling.

This is about the crookiest thing that I ever heard of. You sell something that you don't own and make money, then supposely buy it back when the price drops and give it back to the company that actually owns it. Probably most of the time the company that actually owns it, don't even know you sold it. Thats a classic example of whats called "SMOKING MIRRORS". Theres no way this should be legal or allowed. No wonder everything is so screwed up with our economy system. The only way this should be allowed is, if you actually own it and have to hold it a certain amount of time before you can resell it or the value goes up 10%. This is what drove up the price of oil this past year. Anything similar to this should be outlawed and declared illegal. Only on Wall St. can you find things like this to make a quick buck.

This needs to be stop yesterday if I am not mistaken this is what Obama's people were doing before 911 to get funds for terror. STOP IT NOW

This gives me a great idea, a friend has some swamp property in Leavittsburg, Ohio by the river. I could sell it as prime beach property cause of all the sand around it. Make a BIG buck from selling it, then when the buyer realizes its just a swamp, buy it back for pennies on the dollar that they paid me for it. My friend will never know cause he still owns it. An I still made a killing on it and never actually owned it. If any legal issues come up, I'll just explain that on Wall St. its done every day and its perfectily legal. If its good enough for the SEC on Wall St. and our federal gov't is ok with it, then it should be ok for everybody. Then everybody thought Madoff was the biggest crook on Wall St., there's thousands of them.

Naked short selling should be banned. We also need a law that would impose a severe prison sentence if we find that those who are selling short are also involved in having negative articles written to bring the price of the stock down. I am convinced the short sellers use anaylsts to write derogatory articles which drives prices down.

You mean Smoke AND Mirrors. As in Houdini or the Great Krespin. A magic trick.

I think it is worse than that described in the article. The naked short sellers just started ignoring the due date that they were supposed to delivery the stock they sold. They would just sell short, ignore any loss if the stock went up, get together with their buddies, who would all sell short and drive the price down. What they were doing is criminal, because they were manipulating the market.

Just remember who the federal reserve is. They are private bankers who run this country and tell are congress and president what to do. How else could these laws get passed can anyone say TERM LIMITS.

Short selling is part of what got us into this mess in the first place. The SEC could have, and shoudl have, stopped it years ago. But they didn't. Now, the same inept government regulators who helped cause the economic crisis are giving us advice for how to get out of it. Get rid of them all, and arrest the greedy capitalists!

www.thirdpositionjustice.net

Amazing what people know, and what they think they know.
Nothing wrong with shorts. Naked shorts are another story. It is not a legal practice, but it is also hard to catch and enforce. When there is a great deal of money around human nature takes it's course. Greed and larceny are always part of the picture. Naked shorts, however bad they may be, did not create, nor did they have any large impact, on our current mess. The main reason that the un-employment lines are now large and growing stems from housing and the attempt to turn this area in a gold rush. For a while it was, until this bubble burst and the consequences were compounded by the method that these risky and high priced notes were financed. Haven't you heard of the all the fancy names like consolidated debt obligations(CDO's), and the rest in acronym land. One thing to put lipstick on a pig - another to add false eyelashes and a fur coat. Now, if things are not bad enough just as soon as this area starts to collapse, the oil traders jump in and push the price through the roof. Please, let us NOT forget these bastards. Everything is strained and they have only their self interest at heart. Screw the public is their motto, just as that of the CEO's that were paid multi million dollar salaries to run good companies into the ground. We have a host of people running this country that have lost all sense of integrity and a purely self-serving, without regard to how much damage they do to the majority.
I believe that this so called recession is likely to become a really deep depression despite all government effort at intervention. The potential of a Madame LaFarge remains a reality in some form.as there is sure to be an outcry to punish those responsible. It is only a matter of time.

There is nothing wrong or illegal about short selling the correct way. naked short selling has always been illegal and the people perpetrating it should be punished severely to make an example. the biggest change made to covered short selling (shorting stock you have borrowed) was the abolition of the plus tick rule 4-5 yrs ago... this rule only allowed short selling on a plus tick on a stock which was instituted back around the depression for the obvious reason of not letting the short sellers hammer the stock down continuously and buy it back when it hit where they wanted it to. very simple rule for a very simple reason. why they took the rule out? good question. they thought it would regulate itself and let "the market" set the price. problem is that it is too easy to manipulate by the deep pockets of the large corporations, ie: goldman, lehman, merril, etc... to do away w/ these rules does not help the small investor at all, but allows bullies in the market. SEC chases its tail and rarely prosecutes. when it does, 1 or 2 individuals may face the wrath (as scapegoats) but the corporation NEVER has to admit any wrongdoing and pays a stiff fine and all is forgotten. and the other thing that needs to happen is to keep congress' nose out of this bcs this all truly started when congress changed the pricing of stocks to pennies instead of 1/16, 1/8, 1/4, etc bcs they thought it was too confusing for the "little man". really? if you cant figure out how much a 1/16 or an 1/8 is then maybe you should be putting your money in your mattress... from that point on congress continued to make uneducated changes to everything and look at us now...

Ban short selling. And ban Oppenheimer brokerage. They got me and thousands f other investors into auction rate securities in 2007, right before the market imploded, knowing full well that was going to happen. Oppenheimer execs sold their own auction rates, and left their clients high and dry. Now, going on 18 months later, we're still stuck, while almost all the other firms have redeemed their clients. If your cash is at Oppenheimer, it's unsafe.

GET ENERGY FUTURES OFF THE OPEN MARKET...WE HAVE BEEN RIPPED OF FOR ENERGY SINCE 2000...REMEMBER ENRON?? FORMER SENATOR PHIL GRAMM IS TO THANK FOR THAT....CONGRESS PEOPLE WHAT HAVE YOU DONE WITH ALL THAT MONEY GIVEN TO YOU UNDER THE TABLE FROM BIG OIL AND HEDGE FUND MANAGERS??? THE SEC=BIG MONEY

4-08-2009 @ 6:09PM
Andy said...
I understand very little about the market except that my 401K is missing. Let me see if I got this straight. >>>>>>>>> Andy you are funny, but it's the truth. Now we are really seeing who's been minding the hen house. The FOX.

TWO WORDS ... Bernie MADOFF. NEW YORK STATE and NYC has become a haven for FRAUD, CROOKS and THIEFS. Not the street type skanks but the SKYSCRAPER, Politicial and regulatory agencies type FRAUDS. No one trusts the stock market any longer !!! Heck I lost $18,000 in AIG stock after buying it when analysis said it was solid. 31 days later AIG was in receivership and NOT a SINGLE investigation. It is robbery and no one goes to JAIL they just go to their YATCHS !!! Elliot Spitzer was NYS attorney general when MADOFF Crime Family was exsposed in late 1990's, SPITZER IGNORED the FRAUD.

Just follow the history of Sedona , with great announcements the stock still went down , The naked short sellers want this company to go belly up so they do not have to cover. When will the sec step up on this one

Short-selling is considered by the majority of investors as anti-capitalism, anti-American and anti-free market teachings. The SEC must reimpose the uptick rule concerning short selling. Also, the SEC must prohibit naked short-selling. Anything short of that, I am afraid investors will flee the U.S. financial markets to Emerging markets. Short-selling was and still is the main reason for our current financial collapse.

Short-selling is now considered by the majority of investors as anti-capitalism, anti-American and anti-free market teachings. Short-selling was, and still is, the main reason for the collapse of our financial system. We strongly urge the SEC to reimpose the uptick rule regarding short-selling and also to enforce the prohibition of naked short-selling. Short of that, investors will abandon investing in the U.S. financial markets and go instead to overseas markets.